Tamarack Valley Energy Ltd (TSE:TVE) Given Consensus Recommendation of “Buy” by Brokerages

Tamarack Valley Energy Ltd (TSE:TVE) has earned an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$12.72.

TVE has been the topic of several recent analyst reports. Raymond James Financial raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$12.00 to C$15.00 in a research note on Friday, May 29th. Royal Bank Of Canada increased their price target on Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Roth Capital set a C$15.00 price target on Tamarack Valley Energy and gave the company a “buy” rating in a report on Tuesday, May 19th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a research note on Friday, May 29th. Finally, Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$12.00 to C$15.00 in a report on Friday, May 29th.

Tamarack Valley Energy Stock Performance

TVE opened at C$13.10 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.80 and a debt-to-equity ratio of 38.89. The business’s 50 day moving average is C$12.77 and its 200-day moving average is C$10.94. The stock has a market cap of C$6.26 billion, a PE ratio of -72.78 and a beta of 0.33. Tamarack Valley Energy has a twelve month low of C$4.85 and a twelve month high of C$14.03.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 earnings per share (EPS) for the quarter. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The business had revenue of C$375.55 million during the quarter. On average, analysts predict that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, June 15th. Tamarack Valley Energy’s payout ratio is -86.62%.

Insider Transactions at Tamarack Valley Energy

In related news, Director Shannon Joseph acquired 27,521 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average cost of C$12.56 per share, for a total transaction of C$345,663.76. Following the completion of the acquisition, the director directly owned 66,376 shares of the company’s stock, valued at approximately C$833,682.56. The trade was a 70.83% increase in their position. Also, Director Rene Amirault acquired 78,500 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of C$13.09 per share, for a total transaction of C$1,027,565.00. Following the purchase, the director directly owned 454,602 shares of the company’s stock, valued at approximately C$5,950,740.18. This trade represents a 20.87% increase in their ownership of the stock. Company insiders own 1.32% of the company’s stock.

Tamarack Valley Energy Company Profile

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.